June 29, 2015 / 5:18 AM / in 2 years

German stocks - Factors to watch on Monday, June 29

FRANKFURT, June 29 (Reuters) - The DAX top-30 index looked set to open down 4.3 percent on Monday, according to premarket data from brokerage Lang & Schwarz at 0651 GMT.

The following are some of the factors that may move German stocks:

GREECE

Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight.

COMMERZBANK, DEUTSCHE BANK

Commerzbank indicated down 6.7 percent

Deutsche Bank indicated down 6.2 percent

The lenders said they were well prepared for possible financial turmoil as a result of developments in Greece.

DEUTSCHE BANK

Indicated down 6.2 percent

Deutsche Bank Co-Chief Executive Anshu Jain may have “knowingly made inaccurate statements” to the Bundesbank during investigations into manipulation of the inter-bank rate setting process, the Financial Times reported, citing a confidential report from German regulator BaFin. Deutsche Bank told Reuters it disputed the allegation. BaFin declined comment.

DUERR

Indicated down 6.2 percent

The automotive supplier will focus on boosting value through takeovers rather than investing high cash flows into a rising dividend payout ratio, CFO Ralph Heuwing told Euro am Sonntag newspaper, adding that takeovers would become an issue only in two years’ time.

RHEINMETALL, THYSSENKRUPP

Rheinmetall indicated down 5.1 percent

Thyssenkrupp indicated down 5.2 percent

The German government paved the way for a range of defence exports to the Gulf region, including 15 patrol boats to Saudi Arabia and tanks to Qatar and Oman, according to government sources who said it was legitimate for Saudi Arabia to seek to protect its oil platforms from Islamic State. Story in German:

K+S

Indicated down 5.1 percent

Potash Corp of Saskatchewan Inc does not plan any closures at K+S Aktiengesellschaf if its bid for its German peer proves successful, according to people familiar with the matter.

BMW

Indicated down 5.0 percent

BMW, Australia’s Macquarie Group and a host of U.S. private equity firms are expected to bid for Australia and New Zealand Banking Group’s more than $6 billion car and equipment loan book, a source said on Monday.

VOLKSWAGEN

Indicated down 4.7 percent

VW plans to launch a family of low cost budget cars in China and possibly elsewhere starting in 2018, its chief executive said in a newspaper interview on Sunday.

DEUTSCHE BOERSE

Indicated down 4.2 percent

Deutsche Boerse is in talks with Swiss Six Group to buy the remaining stakes in their joint ventures Stoxx and Indexium for 650 million Swiss francs ($692 million), it said on Monday.

LUFTHANSA

Indicated down 4.1 percent

Lufthansa plans to make offers of compensation in the coming days to the families of those killed in the crash of a Germanwings jet in the French Alps in late March, a spokesman for the airline said on Sunday.

RIB SOFTWARE

No indication available

RIB Software plans to strengthen its international expansion and sees the United States as its most important market for the future, its chief executive told the Welt am Sonntag. Thomas Wolf also said, when asked, that he would be open to a takeover by SAP, which owns 4.3 percent of the company.

IPO

Fashion group CBR, which will see its stock market debut on July 2, is staying on the lookout for possible takeover targets but has no current plans for acquisitions, CEO Christoph Rosa told Euro am Sonntag newspaper.

ANALYSTS’ VIEWS

K+S - Deutsche Bank raises to “hold” from “sell”

THYSSENKRUPP - HSBC raises to “buy” from “hold”

OVERSEAS STOCK MARKETS

Dow Jones plus 0.3 pct, S&P 500 unchanged, Nasdaq minus 0.6 pct.

Nikkei closes down 2.9 percent.

GERMAN ECONOMIC DATA

German June inflation data due at 1200 GMT. Harmonised CPI seen +0.2 pct m/m and +0.4 pct y/y, after +0.1 pct m/m and +0.7 pct y/y in May.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Jonathan Gould and Georgina Prodhan)

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